NEW YORK (TheStreet) -- Shares of 3D Systems Corp. (DDD) are higher by 4.87% to $36.15 in mid-morning trading on Monday, after the company reported its 2014 third quarter non-GAAP earnings were 18 cents per share, beating analysts' expectations by a penny.
The 3D printing company said revenue for the most recent quarter grew by 23% to $166.9 million, on strong demand for its design, manufacturing, and healthcare products and services.
Average analysts' expectations were for revenue of $166.5 million for the latest quarter, MarketWatch reports.
"We are pleased that strengthening demand led to a 57% organic increase in unit sales of our design and manufacturing printers, but are disappointed that we failed to fully capitalize on the robust demand for our direct metal and consumer products," said company CEO Avi Reichental.
Additionally, 3D Systems reiterated its guidance for fiscal 2014, and is expecting non-GAAP earnings per share to be between 70 cents and 80 cents. Revenue for the full year is forecast to be between $650 million and $690 million.
Analysts polled by FactSet are expecting earnings per share of 74 cents on revenue of $671.6 million for the year.
Separately, TheStreet Ratings team rates 3D SYSTEMS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: